MetLife Foundation
/OVERVIEW: The philanthropic arm of MetLife primarily focuses on “financial inclusion” for economically disadvantaged communities around the world. It prioritizes programs that help economically disadvantaged people to engage with and benefit from the financial goods and services sector. To a lesser extent, the foundation supports medical research and arts and culture.
IP TAKE: MetLife’s grantmaking focuses on improving the financial health of underserved and low-income people in the U.S. and around the world. Its grants have supported numerous financial literacy programs and initiatives to improve financial services in developing nations. Metlife’s smaller initiatives include disaster relief, housing, medical research and arts and culture. More than half of all grantmaking goes to U.S. based organizations, and New York City, where the foundation is based, appears to be an area of geographic priority. Metlife’s grantees tend to be organizations that have had strong success in the foundation’s areas of grantmaking interest.
This inaccessible funder only accepts applications on an invitation-only basis, but organizations that run successful financial literacy programs might catch this funder’s attention with an email describing their work.
PROFILE: MetLife Foundation is the philanthropic arm of the New York City-based financial services and life insurance giant MetLife. Since 2013, the foundation has focused on financial inclusion and has aimed “to increase the number of people able to make smart financial choices.” Funding prioritizes initiatives that teach and foster financial literacy, planning and opportunity for people in low- and middle-income communities in areas where MetLife does business. To a lesser extent, Metlife supports housing, disaster relief, medical research and arts and culture.
Grants for Work and Opportunity
The MetLife Foundation is dedicated to promoting financial inclusion and making a “positive difference for the individuals, families, and communities we serve,” and its largest grantmaking initiative supports organizations and programs that teach financial literacy and increase access to financial services including savings, loans and investment opportunities for people living in low- and middle-income communities. Past and current partners include Verb, the Common Cents Lab at Duke University and the Sesame Workshop.
Grants for Global Development
Metlife’s international giving focuses on improving financial services in developing countries. The foundation gives to programs and initiatives that help low- and moderate-income people improve basic cash flow management, prepare for unexpected challenges and achieve short- and long-term financial goals. This broad strategy involves prioritizing innovation and technological solutions, applying behavioral economics to drive change and sharing results through publications and conferences. In 2013 the MetLife Foundation furthered its financial inclusion efforts by announcing a $200 million global campaign for financial inclusion in low-income communities in Asia, Europe, Latin America, the Middle East and the U.S. The campaign had a five-year mission to “impact at least 2 million lives” by the time of the campaign. To achieve that goal, the foundation partnered with large organizations such as Rockefeller Philanthropy Advisors, Opportunity International and the Wall Street Journal.
Grants for Humanitarian Relief
The MetLife Foundation awards disaster relief grants to organizations responding to natural and other disasters around the world through its Community Grantmaking program. In 2015, the foundation awarded grants to the International Medical Corps Nepal Earthquake Relief Fund, and in 2018, the foundation supported various organizations responding to the devastation caused by hurricanes in the South. MetLife has also given to the International Rescue Committee, which families and individuals fleeing violence in their home countries resettle in the U.S.
Grants for Housing and Community Development
While housing and community development are not stated priorities of the MetLife Foundation, it does award some grants in this field through its Community Grantmaking program. Past grantees include Neighborhood Housing Services of New York, Food Bank for the Heartland and CASA of Morris & Sussex Counties.
Grants for Science Research
While medical research is not a stated priority of the MetLife Foundation, it does award several grants in this field each year. Past grantees include the Damon Runyon Cancer Research Foundation, the Memorial Sloan Kettering Cancer Center and the Hope Foundation for Women & Children of Bangladesh.
Grants for Arts and Culture
While the arts are not a stated priority of the MetLife Foundation, it does award several grants in this field each year, primarily to institutions in New York City. The foundation does not name priorities for its arts and culture funding, but grants have supported landmark performing arts organizations and visual arts venues. Past New York City grantees include Lincoln Center, the Public Theatre, New York City Ballet, Carnegie Hall, the Metropolitan Museum of Art and the New York Philharmonic. Outside of New York, MetLife has given to the Tampa Bay Performing Arts Center, the North Carolina Symphony and the Dayton Art Institute.
Important Grant Details:
The MetLife Foundation makes over $20 million a year in grants. Individual grants range from a few thousand to over $1 million, with an average grant size of about $25,000. This funder tends to work with large, well-established nonprofits and NGOs. Grantmaking is global in scope, but more than half of its grants go to U.S.-based organizations, and New York City appears to be an area of geographic priority.
The MetLife Foundation does not accept unsolicited applications for funding. Grantseekers may email the foundation with general inquiries.
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